Today’s Gold Analysis Overview:
- The overall Gold Trend: Strongly bullish.
- Today's Gold Support Points: $4560 – $4490 – $4330 per ounce.
- Today's Gold Resistance Points: $4660 – $4710 – $4780 per ounce.
Today's Gold Trading Signals:
- Sell gold from the resistance level of $4670 with a target of $4350 and a stop-loss at $4700.
- Buy gold from the support level of $4440 with a target of $4700 and a stop-loss at $4400.
Technical Analysis of Gold Price (XAU/USD) Today:
The record-breaking upward trajectory for spot gold prices shows no signs of stopping. At the start of this critical trading week, gold surged to the $4,630 resistance level, marking the highest point in the history of the gold market. According to performance across major trading platforms, “Yellow Metal" remains poised for further record breakouts. As previously noted, global tensions continue to drive demand for gold as a safe haven, bolstered by market pessimism regarding U.S. Federal Reserve policies and the situation involving Fed officials led by Jerome Powell.
Jerome Powell’s Future as a Catalyst for Gold market
According to reliable trading platforms. Gold/US Dollar (XAU/USD) prices surged to a record high, surpassing $4,600 per ounce, as the criminal investigation into Federal Reserve Chairman Jerome Powell revived concerns about the independence of the US central bank. Meanwhile, protests in Iran boosted demand for safe-haven assets, particularly gold.
Among the latest US developments supporting the gold market was the launch of a criminal investigation into Powell regarding his testimony this summer about the Federal Reserve's renovated headquarters. This led to a decline in the US dollar. The dollar index (DXY), which measures the value of the US currency against a basket of other major currencies, fell 0.5% to 98.67.
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According to currency traders, the US dollar index recorded its worst decline in three weeks due to concerns that the White House is undermining the Federal Reserve's independence by filling the Federal Open Market Committee (FOMC) with highly dovish members. This risk stands in stark contrast to current expectations of only two US interest rate cuts by the end of 2026.
According to market observers, gold is increasingly seen as an alternative to fiat currencies—government currencies like the dollar and the euro—as rising public debt and anticipated pressure on the US Federal Reserve fuel interest in what is known as currency devaluation trading. Gold's appeal has also been bolstered by escalating geopolitical uncertainty. The US arrest of Venezuelan leader Nicolás Maduro and ongoing protests in Iran have reinforced the precious metal's status as a safe haven. According to US officials, President Trump is scheduled to be briefed on Tuesday regarding options for responding to Tehran, including sanctions, cyber weapons, and military strikes.
Overall, these recent gains reinforce the strong performance of the gold index seen last year, fueled by US interest rate cuts, central bank purchases, and significant inflows into exchange-traded funds (ETFs). Investors are now awaiting upcoming US economic data and political signals for indications of whether this rally can be sustained.
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According to commodity market experts, the magnitude and speed of the rise in gold and silver prices are remarkable, leading many seasoned metals market players to question the sustainability of this upward trend. In general, the price of gold is steadily climbing towards the psychological resistance level of $5,000 per ounce and may even be doing so faster than anticipated before the start of 2026.
Trading Advice:
Traders advise buying gold on every technical bearish correction rather than risking a purchase at all-time highs. Monitor market-moving factors closely, as any cooling of tensions could trigger profit-taking selloffs at any time.
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